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In large bowl, beat 2/3 cup water and meringue powder at high speed until soft peaks form.
While continuing to beat at low speed, gradually add sugar, one cup at a time, mixing well after each addition. When icing starts to appear dry and crumbly (after adding about 6 cups sugar), add remaining 1/4 cup water.
Add shortening, corn syrup, salt and flavorings. Beat at low speed until smooth.